Saturday, April 20, 2024
Outlook India
Outlook Business

Flipkart Group

After Walmart acquired a majority stake in Flipkart, co-founder Binny Bansal has formally stepped down from the e-commerce giant's board. Binny, who sold his remaining stake to Walmart, has initiated a new start-up called OppDoor.

Dedicated service centers will cater to the diverse needs of customers using Apple products in Srinagar and Chennai

Walmart-owned Flipkart has also stopped hiring new workforce to optimise its business operations

According to reports, this is not a pre-IPO round and preparations are being made to raise another fund in the next year.

The report added that the shoppers spent an average of seven hours on the homegrown e-commerce marketplace this year

Flipkart Wholesale hopes that its experiment with the fulfilment centre format in smaller Indian cities will help in pruning its costs and adding another layer to its omnichannel strategy

However, the consulting firm defended its findings claiming that it was based on independent research